Candy Crushes IPO Disappoints; Nissan Recalls 1M Vehicles

U.S. stocks close lower today, with Facebook dragging down Nasdaq after it fell 7% on the day. Despite being a heavily awaited stock, King Digital Entertainment (KING) fell 11% in its first day of trading. The maker of the popular Candy Crush app debuted its IPO at $22.50 per share. The automobile recalls continue as Nissan announced that they will be recalling 1 million vehicles for possible air bag failure. This is the second passenger-air bag recall for around 82,000 of the recalled vehicles. Durable goods orders jumped up 2.2% in February mainly due to a strong demand for commercial airplanes.

It is estimated that insurance companies paid out a whopping $45 billion in 2013. This $45 billion is for both man-made and natural disasters including massive flooding along with harsh winter storms.